TPO tailored review
DWP undertook this review to ensure that The Pensions Ombudsman remains fit for purpose, well governed and properly accountable for what it does. Key findings include:
- TPO is a well-respected and effective organisation.
- There was support from consulted stakeholders for the quality, clarity and impartiality of determinations on pension disputes.
- There was improvement to case clearance times.
Areas identified for possible improvement are:
- Developing the governance and performance framework for the organisation to reflect the increasing size, complexity and maturity of its work.
- Ensuring that DWP and TPO take a more robust approach to scoping and tracking efficiencies.
- Building on the outward facing engagement to position TPO more strategically, working with other relevant organisations to enhance the impact on raising standards more broadly in pensions administration.
The next tailored review will take place in around five years’ time.
PPF Levy 2019/20
The Pension Protection Fund has published a Guide to the Pension Protection Levy 2019/20, which aims to help pension schemes understand their pension protection levy invoice and informs them what to do if they have any questions.
Latest HMRC Newsletter and Countdown Bulletin
HMRC has published Countdown Bulletin No.48. Contents are:
- Final Data Cuts for Ceased Schemes
- Approach for producing Final Data Cuts
- GMP Conversion
HMRC has also published Pension Schemes Newsletter 113, which includes information on relief at source and annual allowance pension savings statements for the tax year 2018 to 2019.
The Prime Minister asked the Queen to prorogue (suspend) Parliament to allow for a Queen's speech on 14 October under the new Government.
Many MPs have signed a joint declaration to fight the prorogation.
- The House of Commons Library has updated briefing paper CBP-7894, which looks at EU law providing for the co-ordination of state pension entitlement and the possible impact of Brexit.
- The government has confirmed that it will continue to uprate the UK State Pension paid to people living in the EU each year for the next 3 years.
Julian Rowe | Policy, Professionalism & Research | email: Julian.Rowe@MERCER.com